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White House Signs PPP Extension On July 4, 2020, President Trump signed S. 4116 into law. The bill extends the Paycheck Protection Program (PPP) application period to August 8, 2020. The U.S. Senate and U.S. House of Representatives passed the bill last week.   To read the statement from the White House, click here. Categories…

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House Passes PPP Extension The U.S. House of Representatives just passed S. 4116, a bill that extends the Paycheck Protection Program (PPP) application period to August 8, 2020. The U.S. Senate passed the bill last night under unanimous consent. The bill will be sent to President Trump’s desk to be signed into law. Categories Auto…

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White House Announces First Day of USMCA into Force Per the White House: Today, Wednesday, July 1, the United States-Mexico-Canada Agreement (USMCA) enters into force. More North American Auto Content: Under USMCA’s rules vehicles must be built with at least 75 percent of parts made in North America in order to qualify for zero tariffs,…

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U.S. House Committee Holds Hearing on the EIDL The U.S. House Committee on Small Business convened a hearing entitled, “The Economic Injury Disaster Loan Program: Status Update from the Administration.” Per the hearing notice from the committee, Mr. Rivera is responsible for the implementation of the Economic Injury Disaster Loan (EIDL) program, and the hearing…

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U.S. Senate Passes PPP Extension through August 8, 2020 Last night, the U.S. Senate passed a bill extending the Paycheck Protection Program (PPP) until August 8, 2020 under unanimous consent. The passage of the bill comes hours just before deadline for applications closed at midnight June 30, 2020. Per Politico, Senators had agreed that small…

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CA State Regulators Approve Sales Mandate for Electric Trucks California State Regulators approved a new rule that would mandate truck manufacturers increase the amount of electric trucks they sell in the state through 2035. The California Air Resources Board (CARB) Advanced Clean Truck rule is part of the states’ effort to reduce greenhouse gas (GHG)…

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U.S. DOT Launches AV Test Initiative Last week the U.S. Department of Transportation’s (DOT) National Highway Traffic Safety Administration (NHTSA) held a series of webinars to launch the start of the Automated Vehicle Transparency and Engagement for Safe Testing Initiative (AV Test Initiative). NHTSA Deputy Administrator James C. Owens stated that this is the first…

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SBA and Treasury Announce New and Revised Guidance Regarding the PPP Per the U.S. Small Business Administration: The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP).  This guidance implements the Paycheck Protection Program Flexibility Act (PPPFA), signed into law…

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Bipartisan Letter to SBA Regarding EIDL Yesterday, the House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) and Ranking Member Steve Chabot (R-OH) led a bipartisan group of Committee members in a letter to the Small Business Administration (SBA) asking for information regarding issues borrowers have faced with the Economic Injury Disaster Loan (EIDL) Program. In the…

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